On 12 May 2011, the Ministry of Industry and Trade, MOIT, issued Circular No. 20/2011/TT-BCT in relation to additional conditions for import procedures applicable to passenger automobiles of up to nine seats (the "Circular"). The Circular adds two conditions to the current regulations, presenting formidable obstacles to many automobile distributors in Vietnam.

On 9 November 2010, Vietnam's Prime Minister issued the long-awaited Decision No. 71/2010/QD-TTg, a pilot step investment scheme based on the public-private partnership (PPP) model, in order to address the growing financing needs of infrastructure projects in Vietnam.

With the significant evolution of the Vietnamese economy in the past decade, more consumers can now afford to buy a wide range of goods and services. Together with that development, increasing violations of consumer rights have been observed. However, in conflicts between vendors and consumers, the latter are normally in the weaker position. Therefore, in November 2010, Vietnam issued the Law on Consumer Protection, to replace Ordinance 13/1999/PL-UBTVQH10 on the same subject, to give more protections relating to the consumer rights.

On 4 March 2011 Vietnam Prime Minister issued Decision No. 14/2011/QD-TTg ("Decision 14"), which from 20 April 2011 replaces Decision No. 38/2007/QD-TTg dated 20 March 2007 ("Decision 38") and provides for the criteria for sectors in which the State owns wholly or majorly.  

On 18 November 2010 Vietnamese Ministry of Finance issued Circular No. 186/2010/TT-BTC providing the guidelines on transfer profits abroad by foreign investors ("Circular 186"). Taking effect from 3 January 2011, Circular 186 replaces Circular No. 124/2004/ND-CP dated 23 December 2004 ("Circular 124").

The new Law on Consumer Protection, passed in November of last year, is designed to protect consumer rights and replaces Ordinance No 13/1999/PL-UBTVQH10 which had been on the books since April 1999. The new law attempts to keep pace with the significant evolution of the Vietnamese economy in the past decade, particularly the emergence of a distinct middle-class which can now afford to buy a wide range of goods and services. With that economic advance, increasing violations of consumer rights have been observed.

On 17 November 2010, the Vietnamese National Assembly adopted Minerals Law No. 60/2010/QH12 (the New Law) which will take effect from 1 July 2011 and replace the current 1996 Minerals Law. The New Law provides legal basis for auction of mineral exploitation right, reforms on licensing in minerals sector and contains some other remarkable provisions.

Vietnam's economic growth in 2010 is on track to reach 6.7%, exceeding the government's target of 6.5%. The country is also benefiting from the recovery of the world economy. Going forward, Vietnam is projected to continue its growth in 2011 at nearly the same pace as that seen last year, which the year's economic growth target 7 - 7.5%. The country's new socio-economic development strategy for the next 10 years, scheduled to start in 2011, will be adopted at the 11^th National Congress of the Communist Party of Vietnam, to be held in the first half of January in Hanoi. 

Mergers and acquisitions (M&A) transactions can be put roughly into two categories: share transfer or asset transfer. When the transaction is a share transfer, the acquirer becomes the target company's owner and assumes the target company's rights and obligations with respect to the shares acquired, including obligations incurred prior to the transfer.

Vietnam's Law on Commercial Arbitration ("Commercial Arbitration Law"), dated 17 June 2010, takes effect from 1 January 2011. With respect to forms for foreign arbitration institutions to operate in Vietnam, the Commercial Arbitration Law stipulates that a foreign arbitration institution may operate in Vietnam by setting up either branches or representative offices.

Vietnam is believed to belong to the top five countries with largest gold reserve. The gold market remains, however, very unstable and vulnerable to the ups and downs of the world's gold market. In an effort to tame the country's gold market, change the people's habit of storing gold and reducing the relevant risks in gold transactions,  the State Bank of Vietnam issued Circular No. 22/2010/TT-NHNN ("Circular 22"). Signed and immediately taking effect from 29 October 2010, Circular 22 regulates the capital deposit and lending in gold at credit institutions, by introducing stronger restrictions.

Just a baby with first ten years of its life, Vietnam's security market has developed miraculously more than expected. To date, Vietnam has two stock exchanges and an UPCoM market, with nearly 600 listed stock codes, 105 securities companies and nearly one million trading accounts of which it is about 25% from foreign investors. 

On 1 October 2010, Vietnam Government issued Decree No. 102/2010/ND-CP ("Decree 102"). Replacing Decree No. 139/2007/ND-CP, the new Decree clarifies quite a number of corporate and investment grey areas which have been controversial for years. As the way is clearer, Decree 102 is hoped to attract more investment into the country. Below are some highlights about the key changes.

On 6 May 2010 the Government issued Decree 47/2010/ND-CP ("Decree 47") regulating administrative sanctions in the labour sector.  Effective and replacing Decree No. 113/2004/ND-CP from 25 June 2010, Decree 47 imposes administrative sanctions that appear more severe on employers.

Under Vietnamese law, a company is represented by a person called the legal representative. Any action by the company must be done either directly by the company's legal representative or via his or her authorisation. The legal representative acts on behalf of, and creates legal rights and obligations for, the company.

On 23 June 2010, the Government issued Decree No. 71/2010/ND-CP guiding the implementation of the Law on Residential Housing ("Decree 71"). Effective and superseding Decree No. 90/2006/ND-CP dated 6 September 2006, from 8 August 2010 Decree 71 addresses a number of persistent problems with current residential development projects.

On 17 June 2010, Vietnam's National Assembly passed the Commercial Arbitration Law No. 54/2010/QH12 ("Arbitration Law"), which from 1 January 2011 replaces the 2003 Ordinance on Commercial Arbitration.